Nasdaq eyes higher open as chips pare losses, rate-hike fears linger
QQQ•Nasdaq futures rose 1.29% before the open as chip stocks recovered, while Dow futures fell 1.06%. October payrolls increased by 165,000 versus a 65,000 estimate, and traders raised the chance of a December Fed rate hike to 78%.
1. Futures mixed before open
The Nasdaq was set to open higher Friday as chip stocks recovered from the previous session’s selloff, while concerns about interest-rate hikes lingered. At 8:43 a.m. ET, Nasdaq 100 futures were up 1.29%, S&P 500 futures were up 0.08%, and Dow futures were down 1.06%.
2. Jobs and rate expectations
U.S. nonfarm payrolls increased by 165,000 in October, above the 65,000 estimate, and unemployment fell to 4.1%. Traders put the chance of a Fed rate hike in December at 78%, up from 70% earlier.
3. Chip stocks rebound
Nvidia rose 4.2% in premarket trading, while AMD, Intel, Broadcom and Micron gained between 5% and 9%. Airbnb climbed 13.9% after raising its full-year 2026 revenue growth forecast, while Atlassian fell 15.9% after reporting first-quarter results.
